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Spreadex Market Update

Monday, April 13, 2015 - Morning Market Update
Connor Campbell - Market Analyst at Spreadex

Quiet Monday morning leads to slight slips in Europe

As Chinese exports unexpectedly fell by 15%, Monday brought also brought with it the launch of the Labour manifesto ahead of the Tory manifesto announcement tomorrow; investors appear to have taken this reminder of the looming election poorly, leading to a negative open for the UK index. However, like its German market cousin, the FTSE is so close to yet more records that it will only take the slightest nudge to push it into new territory.

Much of the news surrounding the FTSE today will be looking ahead to tomorrow for the UK’s latest inflation data; or should that be deflation? Concerns are arising that Tuesday could bring with it the first signs of UK deflation since the 1960s; on top of this came news this morning that whilst hiring remains at ‘sky high’ levels, the issues surrounding productivity that have plagued the jobs-related data of late continue to be a problem. After fresh worries last week over first quarter UK GDP, the country’s economic recovery is beginning to look uncertain at exactly the wrong time for the Tories.

The Eurozone looks set for a quiet start to the week, with the region’s economic announcements not heating up until Wednesday’s ECB meeting. This empty calendar doesn’t bode well for the Eurozone indices this morning; as Greece spends the week trying to cobble together its latest attempt at creditor-pleasing reforms, the region is likely to suffer under the uncertainty surrounding Athens’ fiscal instability. The tone was set this morning with reports that Germany, and therefore the rest of the Eurozone members, was ‘shocked’ by the negotiating approach of Greece, accusing Varoufakis of asking for money ‘like a taxi driver’. Yet, at the same time, the DAX remains on the precipice of more all-time highs, so even a quiet, Greece-heavy week could still result in some fresh records for the German index.

Recent posts:
Evening Market Commenr 10/04/2015
Afternoon Market Comment 10/04/2015
Stock of the day 10/04/2015 - Wells Fargo & Co/JPMorgan Chase & Co
Weekly Trading Update 10/04/2015
Morning Market Comment 10/04/2015

The Trading Day and Week Ahead

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